AMMAN, May 5 (NNN-PETRA) – Jordan and Iraq reached a deal yesterday, to renew the export of Iraqi crude to the kingdom under preferential terms, Jordan’s Ministry of Energy and Mineral Resources said, in a statement.
The deal was signed by Jordan’s Minister of Energy and Mineral Resources, Saleh Al Kharabsheh, and Iraqi Minister of Oil, Hayan Abdul Ghani, in Baghdad.
Under the deal, Jordan will start importing 10,000 barrels of crude per day for a period of a year, starting from June, the Jordan News Agency reported, citing an Iraq Ministry of Oil statement.
Under a memorandum of understanding signed in 2021, Jordan imports around 10,000 barrels per day from Iraq, based on the monthly average price of Brent crude oil minus 16 U.S. dollars per barrel, to cover the difference in quality and transportation costs.
The 10,000 barrels cover around seven percent of Jordan’s daily needs, according to the ministry.
Jordan suspended its oil imports from Iraqi after the previous extension expired on Mar 31.
